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Conrad Industries Announces Third Quarter 2015 Results and Backlog
Conrad Industries Announces Third Quarter 2015 Results and Backlog.
About this update from Conrad Industries, Inc.
[{"type":"text","content":"\n\n\n\nConrad Industries Announces Third Quarter 2015 Results and Backlog\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nConrad Industries Announces Third Quarter 2015 Results and Backlog\nPR Newswire\nMORGAN CITY, La., Nov. 16, 2015\n\n\n\nMORGAN CITY, La., Nov. 16, 2015 /PRNewswire/ -- Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) announced today its third quarter and nine months 2015 financial results and backlog at September 30, 2015. \n\nFor the quarter ended September 30, 2015, Conrad had net income of $2.0 million and earnings per diluted share of $0.35 compared to net income of $4.5 million and earnings per diluted share of $0.74 during the third quarter of 2014. The Company had net income of $7.2 million and earnings per diluted share of $1.24 for the nine months ended September 30, 2015 compared to net income of $17.7 million and earnings per diluted share of $2.96 for the nine months ended September 30, 2014. Results for the three and nine months ended September 30, 2015 included research and development tax credits of $0.8 million and $2.5 million, respectively. The Company's financial reports are available at www.otcmarkets.com.\n\nConrad's backlog was $91.1 million at September 30, 2015, $180.2 million at December 31, 2014 and $135.0 million at September 30, 2014. Since September 30, 2015, and as of November 13, 2015, the Company has signed $147.5 million of new contracts. \n\nJohnny Conrad, President and CEO, stated, \"Our results for the first nine months of 2015 reflect a continued challenging operating environment, with decreased demand and pricing pressure in both new construction and repair. The repair market continues to be soft, which we believe is due primarily to the decline in crude oil prices. \n\nOur management team has been working hard to pursue opportunities to expand our products and services. During March 2015, we entered into a contract to construct the first LNG bunker barge to be built for the marine market in North America.  In November 2015, we entered into contracts to construct articulated tug barges (ATBs), which i...